Frequently asked questions

The banknote and coin changeover

Why is the Riksbank replacing its banknotes? 

The banknotes have new security features to make them harder to counterfeit. The older banknotes were designed around 30 years ago and need to be modernised.

Why is the Riksbank replacing its coins? 

Firstly, the new coins are much smaller and lighter, which means that the handling costs for coins will be lower than they are now. Secondly, the new coins are completely nickel-free. This eliminates the risk of nickel allergy, which is a problem for many people. Thirdly, there is less environmental impact as fewer transports will be needed for the same value of coins.

 

The new coins are also much cheaper to produce, which means that the Riksbank, and thus the state, has lower costs.

 

By introducing a 2-krona coins, fewer coins will be needed as the 2-krona coin will replace two 1-krona coins in many payments.

Is there an older 2-krona coin that will become invalid? 

Yes, there are older 2-krona coins that will become invalid after 30 June 2017. More information on the older 2-krona coin.

How much silver is there in old coins?

 

Coin

Year of minting

 

Percentage of silver

Comment

1-krona

1875-1942

 

 

 

1942-1968

80

 

 

 

40

Coins minted in 1942 can contain 40 or 80 per cent silver.

 

Coins minted in 1968 can contain 40 per cent silver or no silver at all.

 

2-krona

1876-1940

 

1942-1950

 

1952-1966

80

 

40

 

40

 

 

5-krona

1954-1971

 

40

 

 

Why is the Riksbank changing banknotes and coins when so many people use other methods of payment?

Even if other methods of payments, such as card payments, are increasing the Riksbank assesses that cash will remain in use for a long time to come.

How much do the new banknotes and coins cost to manufacture? 

The Riksbank does not manufacture any banknotes or coins itself. For us, a banknote costs between 40 and 75 öre depending on the denomination. The new 1 and 2-krona coins cost 15–20 öre and the 5-krona costs about 50 öre.

What do the new banknotes weigh?

The paper on which the new banknotes are printed weighs as follows (+/- 5% deviation may occur): Weight of banknotes may also vary depending on the air humidity.

 

Denomination

Weight (grams)

20-krona

0,76

50-krona

0,80

100-krona

0,87

200-krona

0,91

500-krona

0,96

1,000-krona 1,01


Security features on the banknotes

Why are the security strips in different places on the banknotes?

The position of the security strip on the new 200-krona and 1,000-krona banknotes, and which will also be on the new 100-krona and 500-krona banknotes, may vary somewhat from one banknote to another. This variation arises naturally in the banknote printing process, and is thus not any form of error. The size of the banknotes can also vary by +/- 1 mm and this is also a natural variation that arises in the printing process. If one measures from the left-hand side of the banknote to the left edge of the security band on the banknotes, the measures differ as follows:

 

Denomination  Number of mm from left edge of note to left edge of security strip on note
100  22.25 mm – 41.25 mm 
200  23.75 mm – 42.25 mm 
500  23.75 mm – 42.25 mm 
1,000  23.75 mm – 42.25 mm 

Why is there occasional variation in colour? 

Banknotes are produced in a printing process and deviations can therefore occur, even if they are unusual. There is just such a minor colour deviation on the reverse of some 1,000 krona banknotes, where the purple colour is slightly paler than normal. This affects neither the function of the banknote nor its security features – it is valid as a means of payment and can be used exactly as normal. To check whether the banknote is valid, you should tilt it. You will then see images that change colour and images that move and shift between motifs. Read more about the security features on the new banknotes.

Can banknotes of the same denomination differ in size? 

Yes, the size of the banknotes can vary by +/- 1 mm and this is also a natural variation that arises in the printing process.  

Invalid banknotes and coins 

What should I do if I have invalid banknotes? 

The Riksbank can redeem the invalid banknotes for an administration fee of SEK 100. Read more about how to redeem invalid banknotes at the Riksbank.

When will the older 100 and 500-krona banknotes and coins become invalid? 

The 100 and 500-krona banknotes and the present 1, 2 and 5-krona coins will become invalid after 30 June 2017. The 10-krona coin will remain unchanged.

What do I do with banknotes that become invalid after 30 June 2017? 

Until 30 June 2017, you can use them as normal.
After 30 June 2017, it will no longer be possible to pay using the old 100 and 500-krona banknotes. However, you can still deposit them into your bank account until 30 June 2018. 

What do I do with coins that become invalid after 30 June 2017? 

The simplest way is to use them when you pay. If you have a lot of coins at home, there are a number of other options. You can: 

  1. Regularly use them to pay for things over a longer period of time
  2. Deposit them into a bank account (contact your local bank branch or your bank’s customer service or search on mynkartan.se).
  3. Go to a bureau de change to deposit them into a bank account.
  4. Use cash deposit machines in retail outlets

The banks may choose not to accept coins or handle cash at all – read more under Can banks refuse to handle cash? Banks accept coins but this may vary from one branch to the next. The best thing to do is contact the bank’s customer service for advice. You can also search for information on myntkartan.se.

 

There are also charity organisations that are happy to accept coins.

 

If you have been a coin collector and have a large number of coins, you may have to pay an administration fee when you hand them in.

Other questions about banknotes and coins 

Can shops refuse to accept cash? 

The main rule is that cash is legal tender and therefore shall be accepted as payment. This rule can, however, be waived by shops, restaurants, etc. In principle, therefore, a shop can refuse cash entirely, refuse to accept coins or certain denominations (e.g. 1000-krona banknotes) or even refuse to accept banknotes and coins that are soon due to go out of circulation, etc. From a consumer perspective, it is better for me to get this information in good time (for example in the form of a sign on the shop door) so that I can choose if I want to shop there or go somewhere else.

 

The question of whether a shop may refuse older banknotes and coins but accept new ones has, as far as we know, not been tested in court and it is therefore not possible to answer it with any degree of certainty. The Riksbank’s position is that shops that accept cash should accept both older and new banknotes and coins as long as they are legal tender. Shops should not refuse to accept the older banknotes and coins until after 30 June 2017, as this is when they will cease to be a valid means of payment.

Can banks refuse to handle cash? 

The freedom of contract principle means that the obligation to accept cash as a means of payment can be waived. This freedom of contract also applies to banks in relation to their customers. Such a contract may be written or verbal. It is therefore not necessarily a question of an actual written contract, as it is sufficient for the bank to simply inform customers that it does not accept cash.

The Riksbank has no mandate to decide over cash handling by the banks, but the banks have promised to help their customers with the banknote and coin changeover. Any change in the legislation regarding cash handling is a matter for the Riksdag (the Swedish parliament) and the Government. B.

What are Swedish banknotes made of? 

The banknotes are made of raw cotton, which gives a rough and firm texture.

How many banknotes and coins are in circulation? 

Here you can find statistics on banknotes and coins.

What do I do if I find a counterfeit banknote or coin? 

Payments may not be made using counterfeit banknotes and coins. To do so deliberately is a serious crime that is punishable by a prison sentence. It is also punishable to possess counterfeit banknotes or coins with the intention of distributing them.

If you detect a counterfeit banknote or coin, refuse to accept the banknote or coin. If you already have, try to remember how you might have obtained it and report it to the police. More information on counterfeit banknotes and security features can be found under genuine or counterfeit.

What should I do with damaged banknotes? 

If you have a damaged banknote, you can normally take it to a bank to replace it. If the bank will not replace the banknote, you can send it to the Riksbank. More information on what to do can be found under: redeeming damaged banknotes.

Is it illegal to destroy money? 

No, it is not illegal. You can do what you like with your own money. Previously, it was illegal to destroy coins, for instance, by making holes in them.

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Colour-shifting image, 1,000-krona banknote

Colour-shifting image linked to the person portrayed on the banknote, in this case an olive branch. The banknote's denomination, 1,000, is also shown in the image. The image and the denomination gradually change colour between gold and green when you tilt the banknote.

Security strip , 1,000-krona banknote

Vertical purple security strip with three windows. The windows feature images that move and alternate motif between KR and a royal crown when you tilt the banknote.

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